Wärtsilä separates its Energy segment into two reporting segments: Energy and Energy Storage
Wärtsilä announced the closure of the strategic review of Energy Storage and Optimisation (ES&O) that was started on 31 October 2023. Effective from 1 April 2025, Wärtsilä will have three reporting segments: Wärtsilä Marine, Wärtsilä Energy, and Wärtsilä Energy Storage.
Wärtsilä announced the closure of the strategic review of Energy Storage and Optimisation (ES&O) that was started on 31 October 2023. The strategic review has concluded that the reporting segment Energy will be separated into two independent reporting segments: Energy, focusing on the power plants business and related lifecycle business and Energy Storage, focusing on the battery storage business and related lifecycle business. Energy Storage operates in a market with distinct dynamics compared to Energy, and the two businesses have limited operational synergies. Separating Energy Storage into an independent reporting segment will drive further focus on this business in a rapidly evolving industry. Wärtsilä remains fully committed to developing Energy Storage that will continue to focus on profitable growth, leveraging its project delivery and execution excellence, and growing its recurring revenue.
In conjunction with this change, Tamara de Gruyter will relocate to the USA and assume the leadership of Energy Storage as President of Energy Storage and EVP as of 1 April 2025. She will continue as a member of Wärtsilä’s Board of Management and will report to Wärtsilä’s President & CEO, Håkan Agnevall. Following this, Tamara de Gruyter will leave her current role as President of Portfolio Business and EVP. Bernd Bertram, currently leading the business unit Propulsion in Wärtsilä Marine, will take on the leadership of Portfolio Business as of 1 April 2025 in parallel with his current business unit leadership role. In his role as Head of Portfolio Business, Bernd Bertram will report to Wärtsilä’s President & CEO, Håkan Agnevall but will not be part of Wärtsilä’s Board of Management. Anders Lindberg will continue in his role as President of Energy and EVP.
Effective from 1 April 2025, Wärtsilä will have three reporting segments: Wärtsilä Marine, Wärtsilä Energy, and Wärtsilä Energy Storage. Portfolio Business continues to be reported as other business activities. The change in the reporting structure will be reflected in Wärtsilä’s financial reporting starting from the second quarter of 2025. The restated financial information for 2024 and Q1/2025 will be published during the second quarter of 2025.
